BNP Paribas Upgrades Prudential (NYSE:PUK) to “Outperform”

Prudential (NYSE:PUK) was upgraded by investment analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat reports.

Separately, StockNews.com downgraded shares of Prudential from a “hold” rating to a “sell” rating in a report on Tuesday.

Prudential Price Performance

Shares of NYSE PUK opened at $18.47 on Wednesday. Prudential has a 1 year low of $17.12 and a 1 year high of $28.59. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $19.06 and a 200-day moving average price of $20.04.

Institutional Trading of Prudential

Several hedge funds have recently added to or reduced their stakes in PUK. Goldman Sachs Group Inc. increased its holdings in Prudential by 15.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,011,551 shares of the financial services provider’s stock worth $45,159,000 after acquiring an additional 274,674 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of Prudential during the fourth quarter valued at about $5,108,000. Ramirez Asset Management Inc. purchased a new stake in Prudential in the 3rd quarter worth approximately $4,740,000. Envestnet Asset Management Inc. increased its holdings in shares of Prudential by 31.5% in the third quarter. Envestnet Asset Management Inc. now owns 729,427 shares of the financial services provider’s stock worth $15,989,000 after purchasing an additional 174,838 shares during the period. Finally, Northern Trust Corp increased its stake in Prudential by 11.2% in the 3rd quarter. Northern Trust Corp now owns 1,331,838 shares of the financial services provider’s stock worth $29,194,000 after acquiring an additional 134,347 shares during the last quarter. Institutional investors own 1.90% of the company’s stock.

About Prudential

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.